New SEC Comish Chris Cox a Brilliant Choice

Although "SEC Commissioner" doesn't sound like one of the more important political appointments, I think Chris Cox will prove to be huge for the investor class and the economy. After a rather disappointing term from William Donaldson as SEC Commissioner, Bush's new choice is a brilliant stroke. The tort lawyers won't like him so he will likely face some Democrat opposition, but having served the House well and being a likeable guy, I'm pretty sure he will be confirmed easily.

Larry Kudlow has a good review of Cox:

Many in business complain that Sarb-Ox has created an overly hostile regulatory climate. While Cox will insist on honest accounting and complete accountability from CEOs and CFOs, and will not tolerate any number-fudging, watch him reduce costly paperwork burdens and improve the climate in his first 100 days.

Cox is an opponent of excessive shareholder lawsuits. He is highly skeptical of options expensing. He will favor electronic trading for the NYSE. He will focus on individual corporate wrongdoers rather than bringing down entire companies.

If you still have doubts about how great a choice is Christopher Cox, just take a look at this photo. Or look at liberal blog posts here and here - and you know he's the right man.
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